This is a half day workshop introducing the issues and challenges of Takaful as it relates to IFRS17.
A working knowledge of IFRS17 is assumed through the Fundamentals workshop but participants do not need to be an actuary.
As this is a hands on workshop, participants will be required to bring a laptop in order to participate in the exercises.
1:45pm – REGISTRATION
Summary of the basic concepts of IFRS17 and applying it to Takaful
Discussion of the treatment of IFRS17 for Takaful and potential variation by model.
3:30pm – TEA BREAK
Hands on Session: Single Contribution Mortgage Reducing Term
Participants will put together fulfillment cash flows and CSM for the plan under several different model types. This will be a facilitated session.
Hands on Session: Unit Linked
Participants will put together fulfillment cash flows and CSM for a representative unit linked plan. This will be a facilitated session
Implementation issues and game plan
5:00pm – END OF WORKSHOP
Early Bird Rate: MYR 945 (valid until 5 April 2018)
Normal Rate: MYR 1,745
(All rates stated are not inclusive of GST)
Registration Closing Date: 16 April 2018
Zainal Kassim, FIA
Actuary and Senior Partner, Actuarial Partners Consulting
Zainal is a Fellow of the Institute of Actuaries, UK. He has extensive experience spanning over 30 years covering the full spectrum of actuarial services including takaful, conventional life and general insurance, pensions and investment.
He has had experience in a number of countries including Malaysia, Indonesia, Thailand, Singapore, Brunei, Taiwan and countries in the Middle East.
He represents the Malaysian Accounting Board in the IAS 19 working commitee at the International Accounting Standard Board in London.
He has presented on pension, social security and takaful in many conferences locally and overseas and has contributed many articles in journals and books on issues relating to pensions and takaful.
Hassan Scott Odierno, FSA
Actuary and Partner, Actuarial Partners Consulting
Hassan Scott Odierno is an American who has been a partner with Actuarial Partners Consulting in Malaysia and involved in insurance consulting and Risk Based Capital (RBC) since 1996.
His role as appointed actuary to insurers in countries such as Malaysia, Sri Lanka, Kenya, Brunei and Mauritius has allowed him to understand the challenges of taking RBC regulations from the developed world.
He is a co-author of the World Bank book Takaful and Mutual Insurance, co-author of the book Essential Guide to Takaful and a contributing author to the books Actuaries in Microinsurance and Health Insurance in Asia. He is also the external advisor to two universities in Malaysia to their risk management and actuarial science programs.
Hassan is a Fellow of the Society of Actuaries, and has a Bachelor of Science degree with high distinction in Mathematics from Worcester Polytechnic Institute in the USA.
Joanne Law, FIA
Actuary and Principal, Actuarial Partners Consulting
Joanne graduated from the University of Melbourne, Australia in 2003 with a Bachelor of Commerce Degree (Actuarial Science). She is a Fellow of the Institute of Actuaries in the United Kingdom and has close to 10 years of experience in consultancy and insurance.
Joanne has significant actuarial experience on product design, pricing and valuation for several conventional and takaful companies. She was involved in a wide range of actuarial consulting works such as statutory valuations, FCR, Embedded Value, mergers and acquisitions, ICAAP and product pricing works.
Joanne previously worked in the U.K. where she was the Solvency II Actuary in Friends Life and was involved in developing the Solvency Capital Requirement (SCR) model for the company.
She also worked for Deloitte UK for 3 years, where she worked on various assignments such as a large scale Finance Transformation Programme for Aviva UK, actuarial review works, unit pricing calculations, mergers and acquisitions, Market Consistent Embedded Value, Realistic Balance Sheet reporting, Individual Capital Assessments and various aspect of Solvency II work.
Led by Experienced Practitioner with 30 Years Experience
Practical & Relevant
Hands-on Interactive Exercises
Networking Opportunity with Fellow Professionals
Who Should Attend
Middle to Senior Level Actuarial Executives